{"id":14421,"date":"2020-02-16T13:43:56","date_gmt":"2020-02-16T17:43:56","guid":{"rendered":"http:\/\/www.wasobamaborninkenya.com\/blog\/?p=14421"},"modified":"2020-02-16T13:43:59","modified_gmt":"2020-02-16T17:43:59","slug":"tankers-tankers-everywhere-virus-causes-historic-traffic-jam-across-asian-supply-lines","status":"publish","type":"post","link":"https:\/\/www.wasobamaborninkenya.com\/blog\/tankers-tankers-everywhere-virus-causes-historic-traffic-jam-across-asian-supply-lines\/","title":{"rendered":"“Tankers, Tankers. Everywhere!” – Virus Causes Historic’ Traffic Jam’ Across Asian Supply Lines"},"content":{"rendered":"\n
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ZeroHedge<\/strong>, by Tyler Durden<\/a> — February 15, 2020<\/p>\n\n\n\n

Excerpts:<\/strong><\/p>\n\n\n\n

Covid-19’s effect on global energy markets has been disastrous. OPEC slashed its oil demand forecast last week, and\u00a0Goldman Sachs<\/a>\u00a0doubled down on its bearish oil take and has cut its oil price target by $10 to $53 for the year, as a result of a\u00a0“demand shock”<\/a>\u00a0that is set to collapse Chinese oil consumption by 20%, or as much as 4 million barrels per day.<\/em><\/p>\n\n\n\n

The sharp decline in demand in China, which by the way, is the world’s largest oil importer, is now stranding oil cargoes off the country’s coast and across Asia.<\/em><\/p>\n\n\n\n

………………………<\/p>\n\n\n\n

Much of the oil consumption decline is because, as we reported on Friday, China’s\u00a0economy is faltering<\/a>\u00a0as its industrial hubs remain shuttered. <\/em><\/p>\n\n\n\n

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View the complete article including images, links and comments at:<\/strong><\/p>\n\n\n\n

https:\/\/www.zerohedge.com\/markets\/tankers-tankers-everywhere-virus-causes-historic-traffic-jam-across-asian-supply-lines<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

ZeroHedge, by Tyler Durden — February 15, 2020 Excerpts: Covid-19’s effect on global energy markets has been disastrous. OPEC slashed its oil demand forecast last week, and\u00a0Goldman Sachs\u00a0doubled down on its bearish oil take and has cut its oil price … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-14421","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t